​TSX plunges again as oil hits a 5-year low

by Jamie Henry08 Dec 2014

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​TSX plunges again as oil hits a 5-year low

The energy sector suffered another sizeable loss today driving down the Toronto Stock Exchange once more. Weak data from China which showed a drop in imports and lower-than-expected exports has done nothing to suggest more demand for oil in Asia, while Stanley Morgan downgraded its forecast for oil prices for 2015 and 2016 adding further pressure to energy stocks. Oil is now around a 5 year low and following a 5 per cent decline in energy stocks last week they fell a further 6 per cent today. Mining and bank shares have also made losses today.